Jefferies Reiterates Buy on Express Scripts

Jefferies is out with its report today on Express Scripts ESRX, reiterating Buy. In a note to clients, Jefferies writes, "WAG WAG/ESRX contract negotiations may be stalled for the moment but are far from dead. Potential earnings loss at WAG from a terminated ESRX relationship appears more costly to WAG than ESRX, suggesting that a compromise will ultimately be reached. We believe investors should take advantage of this drama in ESRX (and WAG) to build positions ahead of 2012. Reiterate Buy on ESRX & $69 PT." Shares of ESRX closed Thursday at $54.06, down 0.42% from Wednesday's close.